The TSX oil and gas industry is at a crossroads. For years, these companies have been among the top-performing stocks on the exchange, driven by high oil prices, strong commodity demand, and more efficient production methods. But the industry is facing intense headwinds from regulatory changes, growing environmental concerns, and reducing oil product demand—just to name a few. Investors looking for the top stocks in the oil and gas sector will want to keep a close eye on these five firms that recently posted strong results for the third quarter of 2020. Suncor Energy Inc. (TSX: SU) is one of the largest energy producers in the world and the largest integrated oil and gas company in Canada. The company proved its resilience over the recent period as it reported net earnings of $452 million—an impressive 25% growth from the same period last year. The primary driver was the company’s oil and gas business segment, which posted a staggering $799 million in profits. Suncor’s worldwide production pushed up other income statements as well, and the company remains a strong industry-leader considering the difficult market conditions. The second-biggest TSX oil and gas firm is Cenovus Energy Inc. (TSX: CVE). This company is one of Canada’s largest independent integrated oil producers and refiners with operations in Alberta and British Columbia. On their recent Q3 earnings, Cenovus reported net earnings of $152 million, up slightly from the previous year. The company has completed extensive investments into enhancing its Permian operations, and it is now positioned to take advantage of increasing commodity prices in the medium term. Arc Resources Ltd. (TSX: ARX) is another top TSX oil and gas stock. This company specializes in unconventional oil and gas production, primarily from its holdings in British Columbia and Alberta. The firm reported net earnings of $259 million in their Q3 statement, an 11% increase over last year’s performance. Arc has solidified their position through increasing production from the Montney and Duvernay plays, and they also announced their entry to the US, a move expected to further solidify their position in the global energy market. Enbridge Inc. (TSX: ENB) is a Canadian energy transportation company operating primarily in Canada and the US. Despite difficult market conditions, Enbridge was able to post net earnings of $1030 million—a marginal decline from the same period last year. The firm continues to benefit from its long-term vertical integration strategy and has recently increased its capacity by investing in new pipeline infrastructure and increased deliveries of natural gas commodities. Finally, Imperial Oil Limited (TSX: IMO) is another industry heavyweight which owns Letourneau essay writer. This company reported net earnings of $1.2 billion, making it one of the most profitable firms on the TSX oil and gas market. Imperial has several upstream and downstream investments in both oil and natural gas. The company was able to take advantage of higher commodity prices and strong demand for crude oil to post such impressive figures, and is well-positioned for continued profits in 2021. The TSX oil and gas sector is facing multiple headwinds but as the above stocks show, there are plenty of opportunities for investors. Investors looking for the top performing TSX stocks will want to keep an eye on the above-mentioned firms for continued success in 2021.